Wells trims First Acceptance stake

As things stand, Wells Fargo will not show up in the 2014 proxy statement of Green Hills auto insurer First Acceptance. The banking giant this week filed papers with the Securities and Exchange Commission saying it now owns 4.9 percent of First Acceptance, down from 5.2 percent in the spring. Shares of First Acceptance (Ticker: FAC) are up more than 21 percent this year but down 50 percent since 2008.